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Juan José
Juan, at 25 years of age, is the single father of a 6-year old son. He has lived his whole life in the countryside, where he learned all the tasks related to agriculture and livestock, thanks to his father's teachings. Now he makes his living raising cattle for milk production, and the milk that he gets is sold in the market. In this way, he generates the necessary income to cover the basic needs of his home.

The client is a sensible, disciplined and hardworking man. In spite of adversities, he always looks for options that allow him to get ahead. This is why he is applying for a loan to invest in the purchase of agricultural inputs (compost and fertilizers) necessary to fertilize the grass where the cattle feed. In this way, he will be able to help himself so that the cattle are well fed and can increase their milk production. He will thus have the opportunity to increase his sales and receive better earnings. With this, he would like to give his son an excellent education and to continue providing for his family so that in the near future they can enjoy better conditions and quality of life.
View original language description ↓
Juan, a sus 25 años de edad, es padre soltero de un hijo de 6 años. Toda su vida ha vivido en el campo, donde aprendió todas las labores agropecuarias gracias a las enseñanzas de su padre. Actualmente se dedica a la cría de ganando para producción de leche y, el líquido que obtiene es vendido en el mercado, de esta manera genera los ingresos necesarios para solventar las necesidades básicas de su hogar. El cliente es un hombre juicioso, disciplinado y trabajador, a pesar de las adversidades, siempre busca opciones que le permitan progresar. Por esto se anima a solicitar el crédito para invertirlo en la compra de insumos agrícolas (abonos y fertilizantes), necesarios para abonar los pastos donde se alimenta el ganado. De esta forma podrá ayudarse para que el ganado esté bien alimentado y pueda aumentar su producción de leche, así tendrá la oportunidad de incrementar sus ventas y recibir mejores ingresos con los cuales desea dar una excelente educación a su hijo y continuar sustentando las necesidades de su familia para que en un futuro cercano puedan disfrutar de mejores condiciones y calidad de vida.

Additional Information

More information about this loan


By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

Important Information

This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.

Tags

About Colombia

  • $6,070
    Average annual income
  • 183
    View loans »
    Colombia Loans Fundraising
  • $13,171,600
    Funds lent in using Kiva
  • 1,890.4
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,325 helped Juan José to buy agricultural inputs (compost and fertilizers) necessary to fertilize the grass where the cattle feed.
63% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 27, 2013
Listed
Sep 25, 2013
Currency Exchange Loss:
Covered